Ringgit extends advance as rate increase looms

Ringgit extends advance as rate increase looms

KUALA LUMPUR (Jan 19): Ringgit heads for a fourth week of gains as oil prices stay supported and traders brace for a possible interest-rate increase.* USD/MYR falls 0.3% Friday and 0.8% this week to 3.9420, earlier reached 3.9390, strongest since July 2016** Support 3.9300, 3.9038; resistance 4.0465, 4.0812, 4.0965* BNM reviews policy on Jan. 25; said in November it “may consider reviewing the current degree of monetary accommodation” due to an improving outlook* There’s a case for BNM to